Friday, March 08, 2019
Does a wealthy heiress have the credibility to damn CEOs for their high pay? Abigail Disney thinks so. The granddaughter of the co-founder of the cartoon kingdom has long been outspoken about the issue. However, CEOs can respond that she hasn't had to work for her fortune while they have risen through the ranks for 30 or so years and grasped the golden ring. They earned it and are not apologetic. Who then might be credible critics? Boards have tied CEO performance to pay but that hasn't ameliorated outsized compensation. A push to gauge CEO remuneration against a ratio of what workers receive hasn't been successful so far. Increased taxation results in ever more clever ways around the system. Perhaps this is an issue without resolution in the short term. Let the wealthy speak. They are as believable as anyone.